Anytime you feel like "the man" is bring you down, please channel your inner Randy Moss:

"I do want I wanna do. I say what I wanna say."

32
comments:

Anonymous
said...

Bad Economy Threatening the Bread and Circuses of Professional SportsOne of the biggest diversions the establishment uses to keep people from looking at the real problems plaguing this nation is bread and circuses. Rome used the gladiators in the Coliseums as a way to keep people in a stupor. I have to admit, I do watch the NFL and NASCAR. My two-hour diversion a week to rest after fighting the New World Order the other six days. The other six days exposing the evil. Having this kind of diversion once, a week keeps me sane.

Seeing the economy in a downward spiral, disposable income is scarce. An economic collapse on the horizon is on many people’s minds. Right now with the Federal Reserve printing money to bail out the banks in Europe and the United States. With every dollar printed with no gold or silver to back up the value of the currency. Inflation robs the people's earnings and savings by devaluing the currency printing of dollars to prop up the oligarchs. As a result, it cost more to by fuel for the cars, food, utilities and other living expenses. People do not have the disposable income anymore for leisure and pleasure anymore.

Reading on the web, many professional sports leagues are feeling the squeeze of the economy. People are cutting back because they have no job and fear losing their jobs. The NFL and MLB are feeling it with a drop in attendance. NASCAR is feeling the hit from a bad economy. Racecar drivers are having a hard time getting corporate sponsorship. They have seen a drop in attendance too. There has been a decline across the board in all sporting events because the ailing economy. .."

It appears someone is desperate to push futures higher. I haven't heard any news good or bad. The G8 Summit didn't accomplish anything (except for more promises). Mu guess is that futures will close to flat or lower by the open.

I'd probably sell the idea that there are no more traditional head and shoulders patterns. We just had a textbook H&S play out in the S&P 500 last year, the August decline was the breaking of the neckline.

This year if you want an example of a traditional right now look no further than the IWM:

http://tinypic.com/r/2dax4xf/6

As I had mentioned on here before a good way to test the validity of the H&S you are looking at is to use OBV (On Balance Volume), which I placed in the IWM chart above, so its obvious why I use that if I think I see an H&S.

Also, its not entirely controversial to see slanted necklines, those are even discussed in detail in the classic Edwards and Magee technical analysis book. they are much harder though, in my opinion, and more often than not a slanted neckline is a warning that perhaps a more complex triangle is taking shape.....though I don't disagree on the dollar view, I'd call it the same right now.

It looks like the move higher is NOT a short squeeze. Just death by a thousand cuts to the bears. I figure I would have seen larger moves in the crosses but I haven't. Even 10yr closed well of its highs.

"We hang the petty thieves and appoint the great ones to public office."-- Aesop(c. 550 B.C.) legendary Greek fabulisthttp://quotes.liberty-tree.ca/quote_blog/Aesop.Quote.28C2

"The history of totalitarian regimesis reflected in the evolution and perfectionof the instruments of terrorand more especially the police."-- Carl J. FriedrichSource: The Pathology of Politics, 1972http://quotes.liberty-tree.ca/quote_blog/Carl.Friedrich.Quote.400A

"If Americans wish to preserve a country they will recognize,then the first step is to recognize the enemy.Public education is the enemy. The entertainment industry is the enemy.The corporate culture is the enemy. The advertising industry is the enemy.And most of the politicians in both parties are the enemy.An enemy is defined as anybody, or any organization,which is attacking the traditional beliefs of Americans."-- Charley ReeseColumnisthttp://quotes.liberty-tree.ca/quote_blog/Charley.Reese.Quote.72D3

HighlightsThe steady sell off in the stock market mirrors a pullback underway in retail sales, according to ICSC-Goldman whose same-store sales index, at minus 1.7 percent in the May 19 week, is down for a fourth week in a row. The year-on-year rate is down seven tenths to plus 3.8 percent. The report notes little positive effect from favorable weather or from lower gas prices.

Joe Saluzzi continues to embarass himself each time he writes on Barry's, and he tells lots of lies about HFT, primarily because they basically put him out of business....this particular article should give you a laugh though, or it did for me

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Fictional Character Quote of the Day:

I guess it comes down to a simple choice. Get busy living or get busy dying.

- Andy Dufresne

"The Shawshank Redemption"

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This Blog's primary focus is on trading based upon technical analysis. It is run by "AmenRa" and "AndyT," quasi-anonymous traders who employ technical analysis to assess market conditions and trading opportunities. AmenRa utilizes 3LB techniques, Moving Averages and Fibonacci sequences. AndyT's analysis relies primarily on "Wave Theory" and Fibonacci sequences. The Comments Section is uncensored and open to the public. Please try and adhere to the "Blogger Policy."